CVR Energy (NYSE:CVI) Shares Break Below 50-Day Moving Average – What’s Next?

Shares of CVR Energy Inc. (NYSE:CVI) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $52.84 and traded as low as $47.36. CVR Energy shares last traded at $48.7060, with a volume of 3,249,914 shares.

Trending Headlines about CVR Energy

Here are the key news stories impacting CVR Energy this week:

• Positive Sentiment: Third-quarter results beat estimates: CVR reported $4.00 per share versus analysts’ $2.91 consensus, while revenue of $3.28 billion topped the $2.35 billion estimate and rose 68.8% year over year. Earnings also increased from $0.40 per share a year earlier. Quarterly earnings report
• Positive Sentiment: CVR agreed to acquire Marathon Petroleum’s St. Paul Park, Minnesota, and Mandan, North Dakota, refineries in a reported $4.2 billion transaction. The acquisition could expand CVR’s refining footprint and capacity. Reuters: Marathon to sell two refineries to CVR Energy
• Neutral Sentiment: The company declared a quarterly dividend of $0.10 per share, payable November 23 to shareholders of record November 16. The annualized payout is $0.40, representing a reported yield of about 0.8%. CVR Energy dividend announcement
• Negative Sentiment: The $4.2 billion acquisition is substantial relative to CVR’s business and could raise concerns about financing, leverage, and integration. The supplied reports do not detail the transaction’s financing terms. Reuters: CVR refinery deal

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. The Goldman Sachs Group upped their target price on shares of CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research note on Friday, October 9th. Wall Street Zen raised shares of CVR Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. UBS Group lifted their price target on shares of CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Finally, Zacks Research upgraded CVR Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $45.75.

CVR Energy Stock Down 12.9%

The firm has a market capitalization of $4.90 billion, a PE ratio of 71.63 and a beta of 0.85. The company has a fifty day simple moving average of $52.84 and a two-hundred day simple moving average of $35.88. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $4.00 EPS for the quarter, beating the consensus estimate of $2.91 by $1.09. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $2.35 billion. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%. The business’s revenue for the quarter was up 68.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. Analysts forecast that CVR Energy Inc. will post 4.20 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. CVR Energy’s dividend payout ratio is 58.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVI. BlackRock Inc. purchased a new position in CVR Energy during the 2nd quarter valued at about $143,262,000. PDT Partners LLC bought a new stake in shares of CVR Energy in the 2nd quarter valued at about $14,502,000. Dimensional Fund Advisors LP lifted its position in shares of CVR Energy by 16.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after purchasing an additional 265,013 shares during the period. First Trust Advisors LP lifted its position in shares of CVR Energy by 687.6% in the 1st quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company’s stock worth $8,865,000 after purchasing an additional 229,998 shares during the period. Finally, State Street Corp lifted its position in shares of CVR Energy by 11.0% in the 2nd quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after purchasing an additional 213,829 shares during the period. 98.88% of the stock is currently owned by institutional investors.

CVR Energy Company Profile

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.